GBP/JPY:ِ Maintains Positive Stability

GBP succeeded in achieving the positive outlook against JPY, as we expected, touching the first target required to be achieved at 154.35, to hit a high of 154.45.

Technically, the bullish bias is still valid depending on the positive motive coming from the 50-day moving average, in addition to the stability of intraday trading above 153.70/153.60.

Therefore, we target 154.50, noting that confirming the breach of the aforementioned level enhances the chances of continuing the upside to visit the second target, 154.85. Trading below 153.60/153.50 leads the pair to a downside path, its initial target around 153.00.

S1: 153.80	R1: 154.50
S2: 153.50	R2: 154.85
S3: 153.10	R3: 155.20